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Retirement Planning Series 1

Eh pensioto have the ability to look after their youngsters their household in their lack. What you put location? And also so it is necessary as you would certainly via webinar that you need to proactively for your retired life. You need to points emergency room for retired life. That'' s why NPRA this 3 tier pension plan that they brought to have the ability to assist you and also I. I won'' t talk much however let you understand that ment come whether you like or not as well as it is importthat you appropriately prepare you prepare based upon collections princiyou prepare based on able principles and you prepare in order to favor not just you eh but your reliant well ehm the HSOPS has at heart they are interested in events we ar feasible to you then eh have the ability to place togeth fairlygood retired life that would certainly aid you to retire a smile.I pray all of us this session.You can put down inquiries and sure they will certainly answerthem. Say thanks to a lot as well as God you Thanks Pep can take Thank really Amwatin, chair healthsector occupational n sch happy have you us. sometimes, I w encourage you all again. Send the messagto coworkers and also s, and also tell that is not too need to sign up and sign up with the webinaing their retired life. Eh, you be workinnow, you are fit, you out you tomorrWe can as well as for the ideal. Nobody understands ow. Understand some of these so you can plan your effect Like I said earlier, ehm, ment planning collection has been put in place by the educat committee or the wellness industry occupa pensio. This is the initial the series, and also a number even more of these rs will coming your method the nearest future Right now, if you have any kind of questiask, we are going start the primary tation other presens, kindly do well to put it in the conversation box.

We'' ll pick up later on them you. over the platfoMister RansfoMatekowho is our major speakefor today.As presented previously, he is the head the busine consultatory enterp trustees. he has over 13 working experience in financservices sector. Extending insurance coverage as well as ns. Mis Matikodi, we are extremely happy to I'' m satisfied to be here. Um, once more, great morninto everybody. As well as I also like to welcomeverybody to ehm, today'' session. vindicwe will certainly be ng on the gene retirement ng. Um, few points keep in mind we will going right into what retired life actualmeans to us, as well as ehm, ehm, actions consider when plannifor your retirement, risks stay clear of, and also standard pointers to aid occasionally, and also ehm, some opportunities that ehm, exist for workerehm, both, you recognize, official industry i around the pensions, ehm, the pension space it involves ehm, retired life planniand after that can take questions.A stated ehm retired life to find whether we like it not, whether are prepared it or not, we can, or we are able to, start with ehm, with the planniso we specify retired life a time in life when ehm, your main resource mov from gained revenue investincomethis suggests that it'' s in your life where you are no going to be ing ehm, monthly from your employer, currently you going to been on investment returns ehm investments that you'' vebeen able put or ret that you'' ve been to ehm set for this so thingsare chan are you'' ve either been displaced of ehm either being required ehm ment or you'' ve gone retired life bulletry meanin voluntretirement at early fifty voluntary withdrfrom the from the job however either it'' s t going to.We ' re born we will through the phases of life retire is just one of the extremely crucial. Pension area or individuals that have some understanding of ns. We a talk to ody we can be found in call with retirement ng and retire preparation. we require plan for ment. In this short going touch on a couple of that requirement to take into consideration, ally fac for retirement. So the ment pla preparation process for after ehm, paid ends. So, we'' re that currently paid work has finished. You are now going right into the secondphase of your retiresecond stage your So what are a few of things that we require to consider in this in retirement planning s. the very the extremely first which is of the essential ones is to recognize your all sourceof income.Okay and also by mean going obtain. There are sources earnings that you have i some psych you recognize some side e company the side. besides 9 to five or have ehm some kind of ehm family members investment where they obtain returnevery month or some onal stipends being available in from champ household inheritance or whatevwhichever ehm source that income is comingfrom have to identify it and note down as of the sources we are simply going concentrate on your fundamentals ah we are mosting likely to concentrate on all s revenue you have so we to look all that is comingand p it the 2nd thing is to estimate your es Each and ne of has a reasonable idea of their monthly expenses, how you spend in every month on on acco expenses, on college charges, ehm, on basic, recognize, fundamental, necessities, ody a fair idea, however it'' s good to place it down in composing, so you, you recognize, have little conversation, and also put all expenditures down, from the bigges expenditures, ehm, IE rental fee or home loan paymento college charges, to also the tiniest one you buy on way house job or the little tip you offer here and there is they are all part your expensand the demand t is a few of these expenses followyou into retireare that w ehm by the you are ng.Majoriof will certainly follow you retirement. If you are going to proceed havingthese es beca recurrexpenses right into retireThen you to have a strategy so you understand a lot you investing tly ehm and you recognize a lot you are going be spending by time you are ng possibly in 1015 or years great price quote exp well and put conserving program in location. It'' s to have strategy in your head. Sometiwhen it'' s in head that ' sall it It remains in head. Place it down on paper. Put it down right into g. This I ' m stating each month g in any way my sourcefrom all my source of incomeI ' m committing this percentage, maybe a 20% possibly a 30% right into a l saving ehm, fund or special retirement ehm, portfoor or tha so that my savingplan, okay, maybe large plans for my retirement maybe coming e currently will be adequate I to possibly a something the that likewise a strategy, you all, you are, you showing up all these extremely ehm, really outstanding down on paper, so have excellent ehm, a cost savings that you, that you have the ability to apply. is considering your your health insuraehm covers.

It'' s extremely ant that you have a cap, you have life insuracover, it ' s really'importand I ' ll, I ' ll, I this for a whole lot of reasonehm, number on that is, with you had'pass today, ehm, you wear ' t want a ion where benefici to utilize your ehm, retirement incometo you, or to ehm, eh, to make sure revival expenditures that arise out that, or perhaps when you are in r passes away, you put on'' t desire dedicate your retired life funds ehm, l ement and more therefore So it'' s to a life insurance policy cover for lf as well as coveriyour ehm recipients and dependents well.And additionally a medical insurance cover. Good to to a e healthprovider. for kind wellness nce cover that will right into retirement years. To ment what the al Wellness Insurance coverage will e you. That without that we shouldall at least a bare minimum have health and wellness nce federal government provides we ought to have that a bare m and likewise bathroom cover because medical care expense is one the biggesstrains peoplee portforetirement funds it ' s one the biggesdrains since a of peoplethere are great deal of you understand develop illnesin their ehm thei or ehm, after retireyou know, for s reasons, yes, can h lifestyle after retirement. Given, we God for yet in occasion you have healthissues, be able to have ehm, an insurance that cover you, so you put on ' t end making use of all your ehm, your retired life fund to look after your health and wellness and your retirement. And also the last will to examine our ment compens as well as benefits. One, error usually when we are ng a work, i negotiating for bigger allowances due to the fact that the tax obligation ramifications on allowances are fairly small.So people rather prefer ehm ehm eh a biggerallowance contrasted ehm a basic.This is where we have we are havingit all Ah ns, calculationsit ' s ah basic and also not ah allowaSo it ' s very essential bargain or you bargain for bigger ehm percent of remnation to to y becausthey state desire desire their currently, ehm, they desire cash now, they would rather have it allocations they can ' t invest it now, the now is essential, yet not as crucial considthe tomorr because you the, you, could many, many, several years after retirement, if you are going be living thirty, God can honor you, might on you retirement, you are going to be that long, are you to be ing so it ' s crucial think about the future greater than day So when w tasks when we also have chance to ehm have ehm agreement negoti in currenportfolio. It is extremely ant increabasic instead than increased nces. Okay. Alrighso why we need to prepare for retired life? I mentioned previously on we have specific ehm, expenditure that continues, so they are called recurriture, ehm, stated, like utility costs, ehm, like healthcare costs, ehm, accommn, are n ehm, cost that or expensthat do not finish, never ever end, they long as are ali be taking of those expensand these ing e require to b of.So if you are going retirement where you are going reduction your revenue becausyou are much longer going be e regular monthly wage or a regular monthly salary from your emergency room. That that you require to have some funds to take of these persisting iture. Okay as well as importthat you go right into financial debt ehm you put on ' t go into financial obligation this. you need to think about having appropriate ment fun treatment this.I also mentio the increased ehm program in old for me this is one of the most importone. des retired life.

worked 20, 30, 35 years of life. in, day out. Morninto g to dust till Currently is the time for to retireNow the t the fruits of your labor. So this is not the moment for to ehm be living fundamental. put on ' t believthat. You ' ve hard. need to retire comfortably. Exactly how you do Have ve retirement in So can be a properretirement profile you afford the kind retirement that you do should have e you do God knows deserve it. for me this is the important you to prepare for a time e you e a comfo the of ment planniwe usually damage down right into 3 phases of our. Okay. Um it starts early as what we call the young ood. As well as is the where eh most peoplewould

be starting ehm their working life will probabbe fresh out of school or beginning a ss on own but thi beginning a great deal of things for a The thing this ehm, duration in your is, we are starting, alright, so you may be so you might not have much cash to investbut things about it is, you have the time on your as well as the is when ar. That is the finest time when you are young due to the fact that the ple of worsening intereis a to u this in situation, is a rescuer to us in circumstance, due to the fact that you are able to managed. So to occur is, your funds are to grow a much longer as a result of intensifying intereyou are going be havinga bigger portfoby the you are retiring, so take s thirty 5 eh twenty eh twenty sorry they about 35 years up until retirement that ' sa that ' s mighty very long time the downsiabout this is y people in this fall in this team when are in this group they not making very easy to ehm begin thinking of oh puttinretirement ng or as well as at the end eh the back heater that is the blunder make below or the advicehere is to start regardless of little. Start with something little. What ' s importis the regularity the uniformity. So begin with ing small on a mo it, you are continually adding it.Month in month out withoufail. Like exactly how currently the moment is going to work e interefor you. Come to the second you come to the

phase, which ehm, we call very early midline, so that ' s between ages of 36 to 50 years. Now, this is the stage where a of people are now starting family members So you ' d have ehm, people g mar starting to have family members, people most likely currently going their 2nd ehm, I suggest are st work in a circuit, in in a brand-new a y new nment. so on so for some would currently ly this phase be ng for home loan be obtaining certailoans to help make sure ehm n individual demands. Yes so on as well as so forth.Now at this people ' s dispos are increacause now you ' ve been benefiting you understand ten, 12 years, so your able earnings is enhancing. The exact same your e risingas well. you to locate great e, fine? Combination of earning more and also the time that still ha gain st makes DCS, you know, some of ideal years for hostile cost savings becausnow have the as well as have resources, You have di thoroughly ehm this so can stil continue ehm, with your retirement savingplan you had d, and you t y d one, this is great time, it ' s the next time to start, this becausyou have actually have shed alreadit ' s not late, this is the secondbest time you to begin, then have the last midlife, is ehm, 51 to 65 years, ehm, this this phase, you are almostat retirestage or also getting in retired life phase, so one point you would certainly understand is, have a whole lot incomenow, the second stage due to the fact that at this develop up move like, you most likely of are no paying if you have a ge, you have paid off by by this periodyou a great deal more disposincome, however what wear ' t have is so means are able to e ehm, your collection objective your established target for yo you, you, you have mind, Alrigh So in saying that, ehm, I ' ll simply to go quickly to three tier pension ure, all right, ehm, e of th we tier one,'tier 2 obligatory, ehm, including to 18.5 %. The provisis provisbeen produced us in by us a third which is ehm, tier 3 bolunt ehm, provident and after that personal pension. This where an indivican take fee of very own retired life state, all right, I want to do even more than thirty, desire tier 2 my employ do on behalf. this is what I ' m going do. I ' m mosting likely to sign up to a al pension plans I will treat as individual portfoor my personal retired life plan. Okay, and I co Thankfdo appreciate some advantages ehm when contributing n framework as well as ehm, vital among those are is the tax waiver. So you up to 16. 5%tax obligation exception. Ehm, so as you butin individual ns or a three m plan. Okay, so this is the chance for to authorize and and as well as make some some tax obligations, reduce some on some tax obligations for this particone and that financial savings that are can enter into our ment profile fund that we buildiOkay.Um r is it additionally giv opportto established a dedicaretirement fund as well as we currently have control over our ment readiness than we utilized than in the past since now have the unity join to ehm person pension plans is under the 3 tier pension structure so it ' s actualvery safe and secure and it ' s actualvery secureand you are teed a serene ehm tranquil ehm retired life ehm winter months time currently i that we are talkinabout, it ' s essential to'remember a couple of points, a few, you know, risks that you need to stay clear of, or you problems that you require to avoid, that you mak certaierrorsin reasoning when it involves retirement preparation, ehm, so we simply go h pension plan systems, we seem be as well people that you involve on retirement ng ehm yeah on retireplanning you that, my ehm, has one, rate for me, so I am okay.Oh, ehm, I ow established tier one, tier 2 myself and also my staff, so I ' m alright. Since ' sthe thing.So I to as standard pensio it ' s basic and also it ' s, it what ' sthe name it is, it ' s fundamental. It ' s simply enoughto all right? Price quotes percenof your last'income. As well as you are currenbarely finishes meet paycheimagine needing to that'with 65%of your t'paycheck. That would certainly be difficult and also that ' s what one and also 2 will certainly be you by the you are ng. So sly t would certainly not be enoughthen there ' s the requirement make extra volunt contris to your very own retirement, very own way.' Um r blunder a lot of peoplemake sign up with down on PF c PF ts when they transform tasks. y when you ' re dealing with an ution, they would certainly, they would a TF, three PF, Provident Fund set up for you, and your various other employees, fellowemployees.When you ' re movingr regulations, a lot of time, you'' re permitted to attract down on the, the three PF. do er desire to do people view as an unity to to profit their on peer.

cash, that was being deposited for your retired life initially, alright, if you ' re changijobs and also going it it makes feeling to continue contri to so you can, you can it transfto ehm, your brand-new e that a relocating an additional er that exact same trus it, and ue buting'to not in rush down on the PF, feel there ' s cost-free it ' s not, it ' s was up or reserved for our Usuallget better. normally obtain harderSo ten years time, whatevyou believe, whatever heat you think you ' re sensation'will also be hotterWouldn ' t instead desire have somethto aid you cool off on that particular warm? In 10 years, after that oh I I I things I currently, I begin now, so maybe next or following month, as well as the years'will come as well as you sanctuary ' t even started. And the heat obtains So times are difficult, yeah yet it ' s actually be away. okay? Um An additional blunder people normally make not updatitheir beneficiarie really important that updateour benefis every now and also individuals get authorized SNET get signedon rate t functioning and back then the majority of people singleSo, they might name a simply a a moms and dad or a brotheor simply a ve important that come update your recipients with your ' s name when you have en, it ' s ant to them. a lot more kids is essential update them as So at every in time, your 'recipient is d. If something to occur to you, roadways, you to fol are going telephone call. So if we take place and there ' no one to then it ' s a m.Now there ' s a m for your dependthat you ' veleft behindbecause they were not called benefis.

Currently have to through to the courts and a of management which set you back a lot. Come and there will certainly be great deal of back forth prior to can ha something that have just a of days for them to ehm ehm have accessibility alright it ' upgrade our ciaries we also our pensions payments frequently. Let ' s not till we are almost fifty five near' retired life beforewe begin checking our pensiostatement. Allow'' s inspect them today. Let ' s examine them month.Let ' s make certain er the butions they are supposto be'making on our part. Regulawe determine any type of gaps ately, draw t attentto it.If we wear ' t, if we put on ' t check out our our contributionstatements, we will be waiting, we ' ll be waiting, we ' ll be g as well as after that 3, four years until retired life, we'' ll choice our declarations up and you e there are gaps, currently reconciliation ends up being issue, that ' s and 2, you would have lost a lot st, spaces that date as far back as y that'passion, have lost all that passion, so it ' s very pensions butions consistently, all right,'as well as likewise have alright? And also I earlier, I payingattention to your health and wellness your social It ' s component of retired life planning. You you need to, don ' t simply obtain up and particular things. Attempt to get wed, choose have, need to plan them. So just how does my, does gettinmarried this year or following year fit retii age by certain age suit my retired life Yes. Granteehm, a of this would certainly be we look God for great deal of however we additionally to because h with strategy in some cases, So it ' s excellent to have a in place.I to get wed a specific have en by a specific age that I will certainly be done paying fees a certaiage. That ' s it ' s it ' s it ' s simply an instance. I ' m down browse yet to reach his very own, each his own, whichever one benefits you, pick and also with it. there shouldbe a There shouldbe an around your social your your relationships, your giving birth, there need to be a strategy. Okay t, in your retirement preparation. As I r, it ' s really ant to start ea you are unable to early, it'' s never too late. As you can, as'much as we can. Okay, e the power intensifying interest. We will be a space.The second thing is enter a savings attitude. You need remember you seed to expand a tree. Okay? don seeds grow a tree. You have a plan in position, you desire to e s savingbe even more targeted with sav problewe'' re havingis claim basic financial savings is, if have actually gen somethoccurs, you anytime, somethoccurs, dip your into it, e something all right, you dip your hands right into it, yet when you have details savings, so I have cost savings plan for retire it'' s a maritimement alone.I have a specif retirement established for possibly repaying my children'' s That is

there.Have that specifehm retire profile set up for this for that. That'' s ed with your ehm retirement planniSo you not leavinanything to chat. Okay. You need strategy your retirement like all stages of your life. You various other thingsyou strategy what are going to do week, you what a coming on up next Yeah, already you going to don'' t you prepare what are mosting likely to year you ' reretiring? 4th is defin retireI said a number of times. that'' s ting expenditures. Um your energies, transportation as well as feeding. Estimathem as well as understanding much they are mosting likely to cost you when you are entering into retirement as well as making that you sufficient in your retired life Okay and also see to it you register for a privat medicainsurance customized for retired people to supplement what the National Wellness Insuraoffer would give you.So absorb goes to speak my earlier remark on starting your retirement journey extremely early. So this is this a scenario that we provided for six s. diffe 25 to 50. Um giving a goal of conserving up to a n. And the ti you look the personthat'' s twenty 5, it'' s going to lead as little 90 Ghana CDs. Um, to begin with extra at 90 Ghana cities to reach that objective by the time they 60 as well as 35 years.And also we this utilizing a 15% development of st, and l incremin your contributionSo a a twenty-five old will certainly lead at as little 90 cities each month. But for a 45 year old, they'' ll demand as a lot a thousand 6 hundred as well as forty-one. There'' s wish for everybody, more youthful are, the more, the much more age we to re when you are entering into retirement are a couple of to ehm carbon monoxide look at you finallget right into retirement as well as importone is disadvantage you don'' t bed room or 6 m home in your retired life your kids by that would certainly be grown and wed and also moved out of your y cleansing is m taking of it is a wear'' t that 7 seater lorry you don'' t need that lorry your retirezing to a 2 o Easierto handle, ze to smallesedan, simpler to handle, you can you everywhere.Also it ' s vital to ize a in your retirement. Um data reveal that most individuals most, debts pe happen initial years. Now people obtain swamped, individuals obtain elmed. your ng, you are als considering your socials as Okay, so extremely excellent socialize exerciin your retired life. And do not commityour retirement fancy to capital intensive projects. you are concerning yearning retirement, that'' snot the to go land, to start 5 room apartment or condo a of apartments that desire to live.Uh, you desire survive the the ds, wrench earnings in your ment. Cuz mosting likely to take five years and also it'' s to swallo up regarding 2 million citiesof your retired life fund. With rent ehm lease earnings to devote your retired life to resources extensive ehm ehm projects. You can the task you remain in work and t when you are ng but start these members shutting wish to er I would love to advise ody ehm to conserve for specifneeds to generas like to ody that retired life is only goal that can not take a finance Okay? A financing for you remember you have to a seed to grow a tree as well as strategy to stop working if fail strategy. And also gents, thank you really much for this g. I I'' ll hand mic bac Thank you so much Mister Ransford Matikole that great presentation. Um I th I think we have actually discovered a lot from this presen. peoplekeep on sending out inquiries through chat box.Are notingall of them the time for on and s, we' ' read them out give appropriate s. this moment, it is likewise vital you invite your friendand coworkers to join. It'' s not simply even concerning health industry. Um, other workers can participate. ment planni goes with everybody. Utilize the Q&A chat box. As well as put in concerns as well as we'' ll answerthem later.At this moment we are

mosting likely to Mister Andrews Aplobi. that is to share a more light. I know MisterRansford might take what you toucheon this. He spoke about ng recipient listing. Mister Andrew Sablobis additionally going to a going to it to health and wellness. Occupational re scheme need as factors. Pleaseyou have the I ' m gratefUh it ' s a re meetinal I'to share my slides you right currently. Uh as I begin this, certainly yes, our earlier audio speaker has able to touch on a variety of concerns ning a re is to on ah even more particularly it r upgrade he did indicaSo me try share now. So I will ht to component of update t givinga lot even more various other points to make sure that you understand we can be ehm, withinthe retirement plannias it states, let me go there promptly, ehm, he showed, you understand, ah, I want to just include quicklin the healthsector operational n, th trustees have actually placed in a durable systemwhere when come those who retired, t are paid, so there is a system for a s of t repayment that cut throughout ah I will certainly from administrator via the trustees then the custodian where the payment are Now since we are speaking about retirement preparation recognize it ' s extremely importthat we are to do what we require to do regulabasis as we planning.Eh points like member upgrade. know ehm specifically when are lookinat t paymenat that finish where the persons has You

see there are a great deal of issues eh emerge. day eh a date birth. recognize below we all However I ' m sure know we in Africaor Ghana where we have fo being kept in tidy and make sur desire have your best day of birth. Uh the day you you join the the the organi or you begin adding, you it ' s alwaysgood. As soon as are making this make certain you know point, however see, why do we require them trustee? Uh, we require them because see, we will certainly have connect with'you. For examplif you a statemlike webinar, understand, a is through what we call SMS. We require phone.Without phone, when that blast is sent, you might not be abundant. You aha, so these are all, so you changeyour telephone number, please allow us recognize. Anytime you changeyour phone, Maita statusis really important. You recognize, ah, probab filledenrollment kind where you were singlebut currently you ' ve d. You know, us, because are continuing s

, e it ' s even more of a relati, know, wi as much as you'have a location where this personmay not be ble to respond to some'of inquiries, however completed your enrollment, your registration you are a d, probab you no longerbe there, all these impact exactly how advantage recognize, ah, ah, ah, are it ' s really home address, you know, let know this we go financdata, very really vital, so these are things that we are expecting that, as a preparation retired life ng, so it c health and wellness across everywhere we are ing our members will on on the normal basis certain that this due to the fact that information are that is an oil now we remain in in eh taking a look at it you so ensure that we have ideal data for you you know the statemyou referred to as much you can do the to the sta yes make that the statemthat we carry you is the best ent understand eh the salaryyour is imagine you have been probab You understand need to that you it reflecin your 5%computations know so watch it. him vital interest to these. You wear ' t wait what? The last periodLike earliest eh agent you in level of

we call passion estimations you understand and also all'that due to the fact that passion in these video games is upright a bachelor's degree see to it that all those things are genuine gaps. Without that, you you can recognize some losing because. the contris as we ensure examine it, you recognize, you prepare for your retired life, and after that the update of ciary, yes, he te clearly.N clarity. You know, when it come to beneficiary eh, updateYou mo back on that, however I ' m we understand simply scriptural claim that, inheriin your en

chil certain nominafor you might not understand, so of coursedeati don ' t come directly to the indiviyou know, your beneficiary. servesas a will. Even you to the regulatory authority, that ' sNPRA required to trustees that the initial of nt we must utilize make any kind of t paymenis the chosen kind. So the people you there your election essential what instrument eh file or evidence a trustecan usage you understand also the letter of adminion are see You recognize, so you can see that v that. And afterwards makingsure that look at what ted below. I when the is young, you know, you a lot eh, a greater percent, as well as when the individuals hold, you recognize, you offer him reduced eh percent, it ' s quite rather eh, vital that most likely the youngeeh be in you know they may will be the to have even more cash you so that person, you recognize, can complete institution, so just have som finest and afterwards to certify all st, very import you sometiwhen you are g at fatality, benefia t and also all that you see of course, among the spousemay not call various other partner, ultimately, there problems like en below 18 years, you understand, eh, they up the money mosting likely to them when it pertained to the issue of eh, trust fund for, due to the fact that childrmay not have their very own savings account, you recognize, aha, so as as possibit, for, for me, the information that we see mostly what, it cuts both it ' s not ohs alone, the males often you have it, you havi where might have a partner, recognize, but may not them, name some various other peopleSo please, these informthat we have in Accra, you know all these area outletthat know you go, enterprise find virtually eh eh regarding four or country, so you constantly there, you to make sure that this upgrade are done.Usuallto our instructional committee like madam Feb said, you recognize, go runs numerous ties,

When they round, try as as le to approach them, upgrade the member details, they extremely importVery importin you might not be there ally it cor chosen benefiand after that to ensure that all the lawsuits, you understand, all that issue comes acrossYou recognize, at will b you a lot. This all that desire suggest involved participant and afterwards cial editor so a lot. We prepared for your questiyou. Thank you quite mister Andre i. He me not make use of the doct I ' ve d in addition to it. If you me fighting with name, for that presentationI believe we have found out importance of having update our ciary checklist at any type of in time b controlife. We might exist alwaysAnd ehm it brings a lot of solacefor your spirit if you are not there recognizing that you ' vedone things as well as your benefis the right beneficiarieare going obtain contri the schemeat this moment we are to the questions in the Q&A chat box have a of them.This one is comingto you Mister Ransford. Ellen needed to know eh or she wanted who ies as well as one can assert it. A similaquestion likewise from Barbara. if you can an after that we move ahead. Thank you. Okay, thanks really So, the the tax obligation waiverthat I pointed out, it existsthe rate 3 contributions, problefund, or personal pensions, So, as specific, you can enjoy this tax obligation exemption or this waiver would certainly to join to individual n system drops under the three-tier pensiostructure. For our associates that ed their admira controller as well as accounting professional l. We chance to requireds subtract on payroll for your personpensions throug controller. So you subscribe to a personpensioand the ion be affe controller.Now prior to the deductions are ive or before fundamental exhausted, reductions so your rate, your tier 2 reductions are taken

As well as your tier individual person reductions will certainly additionally be out before the remainamount will taxed. that ' s you are cost savings or you are making financial savings on taxes or where you ng tax waiver. Yo contributions are ehm are deducted before the rest of your standard is Okay, so you can enjoy it from ehm deductions from resource, you are, if you up to al pension plans, since component of the three ehm, pensio structure. Thanks. Thank you quite. We had an inquiry from David Sam and this one it says contri to the scheme, just how do contribute to the HS or PS system once I eh t Nyali, ehm, on desiring to recognize the greatest paid out to a registered nurse, ehm, at any kind of factor time, and also after that exactly how do you qualify? At what degree do you receive benefits? Eh, do you reallyqualify for benefit in the after contributing for several years? is one from ce eh Bansa.Who is asking for recordA them the slidesAnd Bill Camden likewise needs to know whethethe HSOPS remains in arrearin terms of federal government contributionSo this one is tele in the direction of HSOPS procedures. I put on ' t wheth wish to commenany them. Otherwise can take it up with AndrewOkay, simply simply a quick one. the one would wish to mention has perform with as soon as migratout of Ghana, contributions towards the rate 2. currenas the ter discussed, the initial two are ory however they actualemployers concer plan. The tier is in fact pensioner, personpension. What we is t indicator on to a al eh n where you contrieven you have migrated out of Ghana so that anytime come back you have some funds that are already eh stored up for eh then the bit concerning you you contrifor years you eh claim eh the first it ' s the you only you retire due to the fact that it ' s retirement eh it ' s it ' s this pensions for retired life they ar when have to go ehm eh voluntre due to whatever or the various other age at the after age of or you have to you completely disarmed e you eh for which factor perhaps due to health or ing for each reason have actually had a certified board eh clear you those who are expatriates who m and also you are migratyou do not qualifSo, not it ' s not regarding exactly how lengthy you bute however to able to t you when you as well as not funds you can get accessand then take it any type of in time. When you that might retiremay unable to any funds as well. Live Howevethe tier the third TM which is individual

pensions and also the others those are funds you can in fact use after one decade of of eh signing on. Eh thank you, I if is anythiAndrews can finish it up. Okay, say thanks to quite eh medical professional Derek Amwati. Ellen wantedto recognize r can include u contris in regards to premium. As well as we additionally had Jane cost. she to know whether there any type of referrals for establishments in of their ers to Andrew, can inform us? Okay, you for ah ah chance ah answerthis allow me try to quickleh to first one eh chairman claimed ehm we ' ve this tier since it ' s mandatas claimed by the r you are specific grounds that you can ' t be able to eh use for the advantage and also those when there is an issue the person living aha so of course minimuyou can you can start using is age simply as eh people can apply and afterwards are instances where you quite jobless for instance at age fifty, the law permits we can pay that advantage but then that ' swhy it it entail a lengthy process, you to go labor declarthat are unemployed, after that additionally it, there ' s stipulation for your tier for ge, by the momentwe still in the very early stage of ping that item as currently, so we have a lengthy means on that particular element, there'you can understand, for your payment, but forget like chairmsaid is a mandatory one, so only option is what, at retired life or specific occasion we or incapacitated, all those be issue whether ehm, can on to your rate tier two is it ' s obligatory, put on ' t, 5 %your salary.On is whether b gross, it depends upon your employer and afterwards what eh eh the company is is'g which the tax'being paid on.

You some institution currenpay on on gross, some ution pay on the basic.Uh huh. It needs to be 5%of your earning. Uh yet the concern is, what about the enabled to constantly put SS the rate two. Hey, tier sorry.That ' s why there are three es that can, you know, t on.Now, the issue that you raised earlier regarding internal revenue service, yes, as generally as we based upon the y ions, however have not as this board had not tried to disadvantage members at factor time. Uh huh. Insteaof g for last settlement to for people to be paid, currenwhat the does i letter come that you are retiring, ately the board has made that know, your money whilst we wait for what? financial obligations that is come. Uh So, whether there are financial obligations or not, as a lot as le, they affect the pro is what the majority of when you. Cash i problem as well as wear ' t you recognize hold-up when pertains to that I thert system place eh actually you refine this as high as feasible thank you extremely much ehm I require you follow payment. Since this questihas come a sailorIt has actually likewise come from Patrick Hudo. As well as a few. They wish to undershow they can check their tier 2 payments. And afterwards we go on with the various other questi Okay. Okay. Thank you Patric at this phase I it suggest that of the frequethings that can constantly do. You we have s all ovp that ' s our es. Hey administration remain in in eh Tamali you ah they are eh Ta Kumasi, you recognize so these are they have also es go aroun when it be board, we have secretariatsthat are yo then we have phone number at any time. So to eh, eh, on your declaration, you can alwayswalk in, we understand that regarding 90 %of our participants when they are make an application for component they wish to ct with someb they lastly, you recognize, eh, send the, the ation, though you can downloyou can do whatever, pleaseeh, these are all messages, you can call, there ' s constantly line, you recognize, business one extremely late, aha, so eh, you constantly call, you understand, so those eh, networks you can contaceh, board or administratofor info on ent. you. Alright, thanks extremely much. So, we movingon with the concerns and we have one I guest, we have ed inquiry on updating of benefis.

you can ly visit the member portalon the wellness sector occupa pensioscheme. You get in with your member ID numberand you can go into the system, you can see your en to and also all of Um the e is alway you just Google sector occupational pensioscheme, will stand out up and also you can to the subscription website and it.Meaning, you inspect this at the comforof your at th any totally free period you have, can c regards to the earlier concern t assume becausthe tattoo is mandatSo, at the of every it '

s ed your 5 %contribution go throug controller as well as be moved t part. Um those that often offer a problem to us are the IGF personnel or personnel in the variouhealth facilities. have tried and also time all these utions understand whether it ' s the Ghana e it ' s an organization, a t institto recognize eh is your duty the l contributions for your personnel. Also they are not governpayroll as well as they'are working you, at end of every month, you are meant ga it right into the plans, ian accounwith a checklist of that tells us that ehm out of the overall amountof we paying, t allocaEhm, Kofi gets twenty cities, one that, this that. To make sure that is the advicewe offer to, ehm, all ers or institutional that might also us call. We are not handling senatematters however Senatealso has variourms that you check st easily availare, you can simply Google and you that educate Ehm, there are a lot of who have asked questiabout tier three contributions, Tier 3 is not mandatory.It voluntso it depends on to make a contribution into a 3 in other places. Um extra all butionand investments going much more you your your in regards to your economic ion allow ' s benefit of all these opportunities are offered us and afterwards we

can t tier with enterprise if you no service. I assume this questi has already been responded to. If air conditioning service, you recognize the butioncom federal government pay-roll. If you are not there have discover lf in in a personal, in an exclusive ution, I ' m privatinstitution will certainly a two eh it is there, what you can do is requesfor porting, we can whate added so far over below to that that you ue it over or can leave emergency room payment have the HSOPS, it will certainly after that contribute there, at time of retirement, you can take from here and from there as well.Um we have you are giving thanks to for this m and for signing up with. Like I said answering ehm concerns from Snit. Abdul Nafiu eh to understand takes place to a workers pension plan payment particularlytier contris if she or he dies. Ehm plan includthe rate 3 systems.

This one the ory 2 plan for wellness s. But tier 3, it they collect you must have upgraded recipient Simply like our, our audio speakers told us, as well as be to them, your ction on your For the sectorn schemeform is availa on our web site you can ehm, a details, you can go the memberportaland update your, your, your benefis at any kind of point in Madam Pep, I can you on that a bit on the all right, you can include thanks the on. Ehm, you recognize, ehm, stated that, that ' s of the eh, eh normally takes rather some becau benefiah, does, is not directly. from wellness sector, courseis regulated system, NPRA or the regulator so that is just one of among the nt benefiis based on that the various other element is you may not be there but you claim that the eh of kin or the recipient a family loved one you recognize in our we have a benefit policy in the plan you will certainly see it with ar are particular ry of people that can get the advantage to make sure that ehm that who to when you in ania or n family members there are procedure of who and who shouldbenefit under that the e remains in like we you have go consistently upgrade those beneficiary.And after that those individuals will use to and afterwards attach those advantages. You know, eh, the s, proof that board is, and afterwards undergo proces which is paid, but y it ' s on benefit process came along.Apart from that, it a str you. Thank you significantly eh MisterAndrewi.

This one I assume runs forward, Mister Ransford, can aid with Both Do whether they are eh any kind of financially rewarding eh investment opportunitieout that they can capitalize on in terms eh personal pensions or ehm personal pensions, yes, because I believe you understand what the obvious is mosting likely to be, mosting likely to state, join to a personpurchase venture trustees, and ehm, because you alreadhave, y our, currently managing your 2, you have some experiwith ah, level of administration, so it ' s not new to so I claim you can on to ehm, the venture individual pensioplan, using short code star 7, one, star, 3, ehm, continuous approval, we ' ll placed it the ehm, conversation area so ody can see, so it just ehm, dialed a code and after that you througehm, motivates, and also can als say thanks to Thanks a lot, as well as the team functioning behind the scenes, we ' ll be placing up that brief code, I will certainly request them to set up the short code ehm, checking statements, HSOPS statemas well, so that ehm, those on-call can up that brief code as well as Regina Pele, unfortunately we'n concerns for you.It ' s concerning and like claimed, this health industry job-related pensioscheme. It will be ult for to answer this on. Ignatius, Aklipe, are speaking about your problem with your problem with layer.

Just leave your ah just send us your. Eh send your number straight to pa from there and also we ' ll reach you later on. To e aid you resolvthat. Henry is saying we explaithe tax I thin been explaialready. Ehm it ' s everything about eh touch that ' s the registered nurses offer the rate 3'function. That ' s your other on yes.does there'' s this from one and Moscowee What are the important things to consider when planning on sort of private job, one want to after retireas to still earn a regulaincome that will r boos benefiand investments one has acquired.When is ideal time to start private task, ehm, one like to do after retirement, start along with activeservice or active e, what are some instances of best sorts of private jobs one can do retirement, ehm, This set Miserance Ford, Madikoli, h truly give us specif work that are are mosting likely to earn as money, even more money towards retireyes. I ' ll, I say ehm, it ' s a totally persondecision, ehm, f sit, I would, what I would certainly ask you is, why do want to in retirement? That ' s what it is, it ' s ment, that'' s when'you supposto be relaxing and also appreciating fruits of your labor, so you ' ve strove, you'' ve ehm, your ment por require to go, you wear ' t requirement to go right into ehm, ehm, ment when yo could occupy consultancy es wh relaxed, ehm, you can t with ehm, depending your location know-how so he can speak with regulafor teams and also organizations various other organizationand what however it shouldn ' t be a full-time point because currently struck sixty, soon going to be sixty-five, your health and wellness is, know, declining, this is not the time to now be entering into active work, you'' re awakening at 5 AM, 4 AM to drive with the web traffic and it'' s not the time, retired life is for remainder, so invest quite possibly in your g life, you can that ehm, and take pleasure in that time and also deluxe and your followers you.Thant madam can

I to that quicklOkay. Yes, you know, I additionally shared that view yes, when is is retired life, you, you to have something to do like questioner was asking. I believ you, you function reasonably. In some nation like UK and also others. they put on'' t have age a retired life. You understand, they are not companies not sory to you state you go to this stage as well as go away. recognize, whenever you desire, you know, you go. Uh huh. Have that shared n that yes, the questihe increased, you can b keeps healthy and balanced. There are like your area of expertThat'' s why constantly at. Your locations experience begin with there. And you don'' t go as well as start brand-new es t to go as well as do farming. All this time have a nurse.Right? And also all time you have been a physician. this you have physician or ing.Ha, in your area competence, ensure you discover it and also are expertin that location. As long as possible. You understand, I indicate, that you can do it on your very own. You know, I rememb remaining in an area where fulfill people like nurses that eh their continuing their Pharma that opened, you understand, chemistry and all that. ng your working on time, know like he claimed, this is not the to use up full-t job but there are numerous avenues. believe it'' s a to do y that the cash circulation keep as keep claiming, money is really vital sometimes. So, you need to begin ng as we we indicabut that options see to it you start from you are workincurrently, where you educated instead of mosting likely to a different area totally. you significantly. Thank you quite, misterAndrewSablobi. BenjamTichi have concerning ehm defaults eh contributions are in RS and also whether we are doing anything concerning it as HSOPS all these ehm maybe can see chairman'' s video clip if you want to you want respond to it I would certainly enjoy that for you yeah fine as well as after that when you complete it add ehm there is question concerning the t situatthe economy terms of the DDEP all that just how safe is our ment that one is Rosafilo Adama, thank you Okay, so thank you extremely much Pep.I, when it to postponing contributions, I th issue we have actually had, given that the scheme d, doing everytpossible to attempt as well as reduceit, yet we all of issues that are going in e of that, there are significant delays when comes payments govern and other employers. the se t scheme does is to considerably ehm one eh we require notifications that we send out to the employer all the time month. Eh we a system in place where followup with controeh the ehm along with the labor front in the healthsector there a number of engagements are makingwith the ry of minist of financry of ment labor relati Every one of these what gettin governments as well as other companies to pay s eh payments that behind I I can'' t claim have succee totally yet but we are making constant s we that eh with I indicate the the y will recovesoon and we wish that soon all of these locations will be cleareso that the butor inevitably take advantage of when it comes DDP and also ehm that is happening.The initially I need to

is, one, you must eh remainder assured we, we, we are not losing nobody is going shed eh, your, your fundamental funds, no, the funds safe. What has ed they co relates to the capacity get ehm, these vouchers as well as maturities paid on Eh, that'' s why e the DDEP and also all needed to and also get ehm get these eh spend changethe period to be able to change it a bit so it can enable ehm ehm governand other employer I indicate various other spend of course others to be to pay we are taking a look at it very closely as you realize eh pensions were given waiverwhen it concerns the domestdebt exchange eh pen all funds within the n s waiverwhich we are still ng eh delayswhen it comes a few of the eh coupont we are g a boardh with labor actively on it to an all of ios eh will be paid thank you Pep you take a are muted Okay, thank yo very medical professional.

So the ons maintain at this minute to contact misterKofius Melin. Sechi, that is also with EnterpTrusteUh system managers to explai briefly because been a of inquiries and also ones have not review out, there are number of them that are askingabout exactly how can their payments their online or upgrade their benefilist the s or exactly how to er ehm. So Kofi please you the the flooring. Alrighthank you madam pe showed, there is an on-line site that allows both members and even companies to access payments on their own as well as on behalf of their employNow for employwhen we authorize you on, you can go to the wellness sectore internet site. WWW dot HSOPS Ghana. com. When go that you to member At the member login section, it will e as a or a company. So you go with registration procedure. Once are able to er as after that have the ability to view your statements, updatebeneficiary info, update your nomineas well, likewise do pensions tions so is what a can do on the onlineportal y employer additionally has accessibility this particonline site the majority of times hear members g to standing of statement for instanthey have no idea what do is as soon as we established employco system particularly for IGF butor to be to check out ent so ought to th unable to their state themselves, can similarly function company t and they will certainly have the ability to you your ent, take you h proces can just as advertisement your ent as well member a participant certificate.Tells you you a me healthsector occupational pension plan. You sign up onlinethese are some t that each member can have access to on the site. For those that are that that not h There ' a USSD code. But however', you recognize exactly how codes operatThey provid you with some straightforward standard atio star 714 star 3 hash. Celebrity 7, celebrity, three, 3, hash. follow prompt, you registthe portalit will confiryour number in our data source if indeedyou remain in data sources. You can after that go in view your closing declaration you can likewise view your participant details as we have in the. You your membem and there something with it, you can out to the manager as well as can aid you t some informon your member whilst going h the star 7 one four 3 three three hash. other new opportunity we looking chairman with your approval. we tly workinon an for the heal pension plan, certain that application will be be launched, is likewise another avenue where it it much simplef view statement, certifand do of this ciary habi try and also any type of challeyou to the he facility that is there, please call, reach to any one of customservice they will certainly abl you througthe process, thanks very much continuous.

Ehm, you quite as well as we thank you significantly Kofi. We have ehm inquiries from Juliet Sappon as well as FranciFaradu. They they have consis that on. wish to tand differ between the tier 3 and afterwards the tier. The the tier claimed ti selective. Yet reality of matter is ehm the health sector pension plan scheme 2. So perhaps you want claim is that you desire recognize the en as well as and us senate. So what demand to tand that primarily the rate one is run by Snits and also the tier two. our instance health and wellness workers which is byr occupa pension scheme They both required systems. But the only differis that given that the eh emen as well as initiation of pension s. When you on retired life given that January twentyyou take your amount from rate Which in instance is of pension scheme.And after that uen

your month-to-month pensiowill come ti Snits. To ensure that is eh, that is the ence. We recognthe truth that there are some that have actually been functioning ehm in system a pair of years at the when SNET was handli everything. Ehm although the retirement, they will cases from Smith and will certainly have just as claimsfrom health u Their case from tier rate one, that is the Smith concerned as a past credit scores. They will certainly for as well as after that come and also take their amount from the wellness industry tional p of inquiries we not be able to handleat all. we are soon to complete. But I will take ehm one or 2 as well as we we can finish this r. So eh question from ehm from Abigail Delali eh something increase trustees, allow me assure you this a schemeand we actually appoint eh service providnot just enterp we have a custodian we have 2 fund supervisors, all of us designate them durations that they can which is signedinto an agreement, as well as have KPIs that they are supposed to achieve withinthe periodand we r On everyday basis.

In when it to your your cash, it comes HSOPS, we have trouble. Um, in terms of our, our gs with these solution providSo allow simply ensure you that don'' t have any kind of trouble. As well as most of us don'' t have any kind of problem it comes the h functional n scheme. As well as our servicproviders. Samson you have duplicated your concerns severaUm the round figure we have actually paid, these are not notify that we break down on webinars. think our last AGM last year, component of the report, these kinds of information were were provided out as God willing, an AGM next year. And also we hand out those informas well. You desire to tand who e expert has obtained the t operatpurchase scheme its opera that ehm it is information that meetings ehm in terms of ehm How numerous, just how several monthsis federal government owing in s in total amount? Please, mister i, pleas offer that to there'' s a on on ca advantages after 60 when I returnto Ghana? Yes, of, if o as well as you have y added when, and also you, onc the of sixty, you use and also claim whatever have you have the that has been running as ments for Ehm m if I have done 14 years of rate one as well as tier 2 contris beforeleaving country, exist any type of arrang for to continI believe addressed that questiin the previoanswers.Ehm Millicent Wahima, exactly how I access the rate as well as tier two when one leaves nation? Ehm I believe we have clarified already, I think most of questileft are just repeatings. I ' ll give AndrewA opportto answerthe questithat simply near to him th chairman of the trustefor some closing s then w webinar. Thanks really much. Madam, madam presid continuous. Um yes, the paymenwe obtained from federal government as a system is September twentytwentyAnd that ' sthe last payment we ' ve ly but from health and wellness sectorbecaus we have IGF typically IG like'peoplewho are ly use facilities all that those repayment eh do comes ah so directto the inquiry I can tha can do the roughly it ' s concerning 8 or far seven to 8 months you know ah y in'a that ' s what straight to question then you ask a question whetheyou are e fine y it ' s really tier you understand year 2, the way it is is that eh becausof the es of eh, having your wage and afterwards making that percent, and the nature it being mandatory, aha, but the question is, all right, maybe you are functioning here already, and after that you a transfer to one more nation to be there a short while and also back.You alw as soon as you are getting wage, you recognize, with your emergency room, they ca You understand, so ah, as a, a scheme, I state that wherever, when you living you k porting, it is plan to scheme, don'' t pay to indiviaccounts, it'' s not a retired life, that ' s what I contribute to this Give thanks to really a lot. Thank you much. that are different coincide. Ehm take acknowledgment that e ehm we, we, our own legislations, it might be, may be company in a certaiiction to p percent of your bution right here, so many of have contributed right into HSOPS prepared and you intendto migrat or have ed currently, you concentrate on ns out there, then ehm, obtain included, obtain entailed in individual pensions as well as various other of your pensions. At this time, ehm, we discuss the chairman of the trustein the person of medical professional Derek Amoate offer some closing ehm statements so you once again eh it'' s been an interesting time we'' ve had emergency room and thanks all the speakers ehm we had we we'' ve talking a summary of eh pension plans eh generally summary of ment as well as how to plan eh for retirement as you mentiomentioned r this j beginning of other engagements that will certainly come I'' m certain they announce the day for other r before we leave here eh however of one remains on my mind, that you require to take your retired life seriously, a great deal of we young, w is 20 it'' s three decades, it ' s 40 years And so we not tak anything

ment.Or anything pensions, but I assume beginning early.You should begin early by all ways. You need to get a cost savings t. As well as you should plan. You to specify your retirement you need t savi are extremely very good tidbits that will certainly assist everyone of if we take seriously. I make certain as we accompany there specify areas will be ng withi subsequent webinaand I to urge and also your close friends and also familyto component of these sessions. Uh are to y wellness field work-related pension is below for you. We here for your st. You reach us any type of time. We have an office at Zoti in Kolegu. Uh also have one in. A basically. can get us in all t outlets, social networks electrical outlets that been provided.Then whenever you have n, just to We good retiretake treatment of yourseAnd with any luck as you to save small, to conserve early, we will certainly all retireg with each other. Thank you much as well as God you. you much doctor Derek Amoateand the an of boars of the market operational patienteam. Ehm simply we you the beginnthis is a webinar collection your means. Um the auspices the education commitof the sectorol pension plan plan, are concerning the component of the very first, the first series, as well as the second series will certainly be coming, the second eh, August17th As well as on that day, we are to take you h the of retireplanning as well as ment choi So will certainly look all stages retireand the ment choic askingquestions regarding can I do, what work can I do and all I make as well as all of that.You will be listening to a great deal a lot more it in our second r which will certainly show up on the 17th August 2023. So on this note, we thank all a lot for joining today'' s webinar. It ' s been extremely interactive in of several questions that we asked quite for joining. Without have a success. We thank our speakefor today. Um that is Mister rd Matikole from Venture Trustees, the brand-new businewing, adviso wing, then mister Andrews Ablobialso our independent trustee for being us As well as most thank the chairman of the board, DoctorDerika for signing up with and other of trustewho on the As well as we to the education and learning commitof the wellness field of n for initiative at bringing factors of the this r serieson this note, thanks all significantly for joinin and we that you secure. When talk health field work individuals in Thank you all significantly joininAnd bye bye in the meantime. Bye. Absolutely free can finish the webinar please. you.

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